According to the Associated Press,
Trucking company Con-Way Inc. said Monday it has cut salaries for its chief executive and other top management by 10 percent and reduced other expenses in an effort to save as much as $130 million this year.
Con-Way also suspended its 401(k) match and reduced pay for all other executives and employees by 5 percent at Con-way.
Per my own conversation with drivers yesterday, they verified the 5% cut in their driver pay. Drivers at a terminal here in Arkansas were called into the office yesterday and given the news.
Trucking company Con-Way Inc. said Monday it has cut salaries for its chief executive and other top management by 10 percent and reduced other expenses in an effort to save as much as $130 million this year.
Con-Way also suspended its 401(k) match and reduced pay for all other executives and employees by 5 percent at Con-way.
Per my own conversation with drivers yesterday, they verified the 5% cut in their driver pay. Drivers at a terminal here in Arkansas were called into the office yesterday and given the news.
